Reddit and weep; Fidelity soars 68% in social media interactions, after embracing TikTok and other media, but sticks with the traditional output on Facebook and LinkedIn

Fidelity Investments is letting its hair down and upping its hipster quotient on social media – radically brightening its prospects for winning Gen Y, Gen Z and Millennial clients as Boomers age out.

The Boston investing colossus with $14.1 trillion in mostly boomer and older assets, reported 776,000 social media interactions in the second quarter of 2024, up 68% from the same quarter last year. 

Fidelity posted the data on its website, and it can be characterized in three words: TikTok, Reddit and Discord, say experts in financial marketing.

Fidelity is even on Roblox, a virtual universe game loved by Gen Alpha kids (born between 2010 and 2025). 

Fidelity's gotten noticeably more dynamic and interactive in recent months, says Emily Binder, founder of Beetle Moment Marketing in Austin, Texas, which specializes in social media marketing, but does not have Fidelity as a client.   

“Their content now includes more video updates, live webinars and interactive Q&A sessions, Reddit threads inviting small fun contests about investing, thematic money tips on TikTok, making their platforms more engaging and informative for both advisors and clients," she says. 

Being 'with it'

Emma Smith, a partner at StreetCred PR, says Fidelity's video content has been completely overhauled.

“Their use of emojis, bite-sized video content and a more casual tone, alongside career and personal finance topics, has made their messaging more engaging for this ‘next-gen’ demographic,” she says.  

"Overall, this shift has helped to make their brand feel more accessible and approachable.” 

But while Fidelity is ramping up its social media content, the company's LinkedIn site appears to have the same old marketing messages, says Marie Swift, president and CEO of IMPACT Communications.

“Their custodial LinkedIn page posts look about the same as always,” she says.

“I see some ‘likes’ and ‘reposts’ on their LinkedIn page, but in my quick skim, I did not see any comments or engagement that looked like real-time engagement."

Most RIAs and advisors likely go to LinkedIn to get social media responses from Fidelity, Smith says.

Pioneering platforms

On Facebook, Fidelity hasn't changed much at all, says Sara Grillo, a CFA and marketing consultant who helps with investment management and financial planning.

 "Their Facebook page is very corporate, publishing nothing that interesting or appealing, so I can't see where this would be the source of lead generation. 

“They seem to be getting a lot of complaints which they are responding to but not that much meaningful discussion.” 

A Fidelity spokesperson declined to answer questions on Facebook and LinkedIn marketing. 

Binder agrees that Fidelity – among mega-peers – is pioneering edgier platforms, like TikTok, Reddit and Discord and not just "the usual suspects" like LinkedIn, X, Facebook and Instagram.

TikTok and Reddit are hot social media platforms with less-than-perfect reputations. Reddit is closely associated with stoking meme-stock mania, and Chinese-owned TikTok has raised privacy concerns over its data and political misinformation.. 

Getting RIAs onboard

Though social media hardly feed the Fidelity beast with new revenues short-term, Fidelity's social media strategy is a sound move, as evidenced by its numbers, says Tim Welsh, president of Nexus Strategy, via email.

“Bottom-line here is that Fidelity is playing the long-game, and I mean the LONG game that no one else can afford to do,” he says.

“With multiple trillions of assets administered that no one else can simply fathom, good for [Fidelity CEO Abby Johnson] to put in the investments, plant the seeds and by doing so, mock Wall Street and anyone coming for her.”

A Fidelity 2022 study found that younger investors represent substantial long-term wealth potential. 

The study showed that wealth is shifting to the younger generations, representing 47% of the U.S. population. 

Fidelity's website exhorts RIAs to follow its lead with youthful investors, citing a statistic showing 57% of Gen Y and Gen Z investors take a pass on their parents' wealth manager.

Yet, Fidelity reports that 63% of Gen Y (born 1982-1994) and Gen Z (born 1997-2012) investors see hav

ing a flesh and blood advisor as the “key,” or prerequisite to "financial success."

"I haven't seen many other ‘finserv’ brands embrace TikTok and even Reddit, which is an absolute goldmine for learning,” she says. 

Supporting investors

Binder says Fidelity has been active on social media with its cryptocurrency commentary, and many of its posts have been aimed at problem-solving. 

“Their X account is very quick for customer support replies. I saw a crypto question answered within one hour on a Sunday,” Binder said. 

Fidelity replied an hour later, Binder said, explaining why clients can't transfer cryptocurrency from an external wallet, and shared links with the company's crypto help desk. 

A Fidelity spokesperson says the company "launched Fidelity’s social channels to answer customer questions and gather direct feedback to influence products and services.

"Investors are being supported…  That means when people need help from Fidelity, they can get it on whatever platform they prefer.” 

Fidelity targets its social media content toward each platform, a spokesperson says.  

“Fidelity’s educational resources are also shared on social channels with content tailored for each platform, so investors can learn when, where, and how it works best for them,” the spokesperson says. 

“The strategy is simple but so effective: speak to a common pain point on the platform where the people experiencing that pain spend time. 

"You aren't forcing them to download a whitepaper or read an email; people are over that and gated content is over," Binder says. 

Either way, videos are absolutely setting them apart," Binder says. 

The youth vote

Fidelity began its youth embrace in early 2021 – at the peak of Robinhood mania. The online brokerage signed up Gen Z investors in droves with a game-like, trading app for mobile phones.

Fidelity countered with "youth" accounts for 13- to 17-year-olds. They automatically convert to a full brokerage account once their clients turn 18. See: Fidelity claims the sub-Robinhood segment for itself (among majors) by offering 13- to 17-year-old investors a parent-lite, zero-fee trading app to go with a neobank 

It takes an adult Fidelity account holder to open a youth account for minor children. Parents can maintain oversight, but not control, according to Fidelity's website. 

At the time, Fidelity said it was the first to introduce younger teens to zero subscription fees, zero account fees and zero minimum balances.

Fidelity's website lists identifying and engaging with Gen Y/Z prospects as a goal and wants these individuals to become lifetime potential clients. 

The company says it wants to have sustainable investing, digital assets and future investment ideas and products for these younger clients… for their whole life cycle. 

Also in 2021, the company invested $410 million in a Reddit funding round that valued the company at $10 billion.

"There’s been a clear uptick in Fidelity's social media presence," Smith says. 

“They've adjusted their strategy to be more active where their clients and prospects are, and have even explicitly outlined the “social media imperative” when it comes to working with younger investors.” 

Clear contrast

Schwab and Fidelity have different priorities on social media and customer service, Binder says. 

“Schwab is also known for great customer support both on phone and chat. But to me, Fidelity's social media growth is likely a combination of engaging modern content, vertical videos, educational posts, and accessible service/support. 

"They have clearly made social media and video a true priority.” 

Fidelity, for example, offers quick content such as a video about Fidelity's Bitcoin halving, Binder says.

“This is zero-click content. They share the info without a user having to click or dig anywhere. It's the ultimate convenience and the modern way to do social media,” Binder says. 

Binder says the contrast is clear between the custodian's approaches to social media.  

“The Fidelity content is zero-click and modern. The Schwab post is a more old-school way to post (teaser, link, trying to get clicks to a blog). 

"The blog post linked is fine but not that engaging. Perhaps, it's meant for advisors and not retail. 

But the best approach is zero-click and giving tons of value directly on your social post itself. People respond much better to that style. It is also 10 times more work to write/produce,” Binder says. 

A Schwab spokesperson did not reply to an email seeking comment for this story.